Climate Finance Innovators

Workshop: West African Carbon Market Hub, Abidjan
2023-09-26 - 2023-09-28
The West African Carbon Market Hub, took place in Abidjan from September 26th-28th and showcased the commitment of West African countries to the objectives of the Paris Agreement, emphasizing innovative public-private partnerships to mobilize financing for GHG mitigation projects with high adaptation and sustainability impacts. Representatives from West African governments and the private sector delved into the operationalization of Article 6, with a keen focus on the expectations for the upcoming COP in Dubai. The workshop participants investigated the country preparation for Article 6 implementation, showcasing the collaborative efforts of West African nations in building capacity and sharing best practices. They also explored role of voluntary carbon market in operationalizing Article 6.2 s. The workshop identified key recommendations, emphasizing the importance of policy and regulatory frameworks, collaboration with the private sector, technical advancements, capacity building, and an inclusive approach for equitable redistribution of carbon market revenues.
As part of the conference, Climate Finance Innovators organized a workshop that tackled the urgent need for action in transitioning over 100 registered projects and Programmatic of Activities (PoA) activities in West Africa from the Clean Development Mechanism (CDM) to the Article 6.4 Mechanism. As the transition procedure becomes operational in 2024, the workshop, moderated by Axel Michaelowa from Perspectives Climate Group, brought together government representatives from East and West Africa and project developers to explore the opportunities of the transition of activities. The panelists delved into the perspective of project developers on Article 6.4 Mechanism, the handling of transition requests by host countries, and the considerations for governments in authorizing Article 6.4 Emission Reductions (A6.4ERs) from transitioned CDM projects. Overall, the workshop facilitated collaboration and addressed challenges in the transition process, fostering a deeper understanding of the needs and expectations of all stakeholders involved.
